Legal & General Group Plc Has $36.57 Million Stock Holdings in Main Street Capital Co. (NYSE:MAIN)

Legal & General Group Plc reduced its position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 2.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 623,689 shares of the financial services provider's stock after selling 18,421 shares during the period. Legal & General Group Plc owned about 0.71% of Main Street Capital worth $36,567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAIN. Wealthstar Advisors LLC bought a new stake in Main Street Capital during the 4th quarter worth approximately $1,326,000. Franklin Resources Inc. grew its holdings in shares of Main Street Capital by 19.3% during the third quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider's stock worth $11,119,000 after purchasing an additional 35,227 shares during the last quarter. Segment Wealth Management LLC increased its stake in shares of Main Street Capital by 15.8% in the fourth quarter. Segment Wealth Management LLC now owns 50,368 shares of the financial services provider's stock valued at $2,951,000 after buying an additional 6,856 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Main Street Capital in the fourth quarter valued at about $957,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Main Street Capital by 270.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,301 shares of the financial services provider's stock valued at $545,000 after acquiring an additional 6,793 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Main Street Capital

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the sale, the chief executive officer now owns 402,371 shares of the company's stock, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MAIN has been the subject of a number of research reports. UBS Group lowered their price target on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday. Truist Financial raised their price target on Main Street Capital from $52.00 to $62.00 and gave the company a "hold" rating in a report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Main Street Capital currently has an average rating of "Hold" and an average price target of $52.60.

Main Street Capital Trading Up 0.9 %

NYSE:MAIN traded up $0.47 during mid-day trading on Thursday, hitting $53.22. The company had a trading volume of 605,177 shares, compared to its average volume of 438,501. The firm has a market cap of $4.71 billion, a P/E ratio of 9.64 and a beta of 0.98. The business's fifty day moving average is $57.26 and its two-hundred day moving average is $55.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. Main Street Capital Co. has a fifty-two week low of $45.00 and a fifty-two week high of $63.32.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The business had revenue of $140.44 million for the quarter, compared to analyst estimates of $141.40 million. As a group, research analysts expect that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 21st were given a dividend of $0.30 per share. This is an increase from Main Street Capital's previous dividend of $0.25. The ex-dividend date was Thursday, March 20th. This represents a dividend yield of 7.11%. Main Street Capital's dividend payout ratio is currently 51.37%.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.